BBA under pressure to come up with alternative way to calculate the benchmark.
By Gavin Finch, Liam Vaughan and Jesse Westbrook, Bloomberg|March 13, 2012 at 05:42 AM
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The London interbank offered rate, the benchmark for $360 trillion of securities, may not survive allegations of being corrupted unless it’s based on transactions among banks rather than guesswork about the cost of money.
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